Dr. Andre Boulet reports

DEVONIAN APPOINTS DENNIS TURPIN AS CHIEF FINANCIAL OFFICER AND PROVIDES UPDATES ON STOCK OPTIONS GRANT

Devonian Health Group Inc. has appointed Dennis Turpin as chief financial officer of the company, effective today. Mr. Turpin currently serves and will remain on the board of directors of the company. Before his appointment as CFO, he also served as chair of the audit committee, a role that will now be assumed by Pierre Labbe.

Mr. Turpin is a seasoned professional executive and chartered professional accountant (CPA) with significant experience in finance, capital markets transactions, business development, as well as mergers and acquisitions, over 25 years of which have been in the biopharmaceutical industry.

"I am pleased to welcome Dennis and confident that he will help strengthen our management approach, diversify our perspectives, enhance our collective expertise and help guide the development of Devonian." said Dr. Andre P. Boulet, PhD, chief executive officer.

Mr. Turpin will replace Viktoria Krasteva, who will remain with the company and assist in ensuring a smooth transition until Feb. 27, 2026. The board would like to thank Ms. Krasteva for her contributions to the company and wishes her well in her future endeavours.

A total of 25,000 stock options were granted to Mr. Turpin. These options are vesting immediately and are exercisable at a price of $11.50, for a period of 10 years following the grant date.

Options grant updates

The company also wishes to correct the news release issued on Dec. 19, 2025, regarding the granting of 2,948,056 stock options to directors and a consultant of the company, as well as the additional grants of 385,950 stock options to employees and 100,000 stock options to a research and development consultant. Pursuant to the terms of the stock option plan, the exercise price of stock options may not be set below the market price of the common shares at the close of trading on the exchange on the trading day immediately preceding the grant date. Accordingly, the exercise price previously disclosed as 18 cents has been corrected to 19 cents, being the applicable market price at the close of trading on the exchange on the trading day immediately preceding the grant date. All other terms of the stock option grants remain unchanged. Further to the share consolidation completed by the company on Jan. 22, 2026, on the basis of one postconsolidation common share for every 60 preconsolidation common shares, the stock options described above have been automatically adjusted in accordance with the terms of the company's stock option plan. As a result, each block of 60 preconsolidation options now represents one postconsolidation option and the corrected exercise price of 19 cents per share has been adjusted to $11.40 per share on a postconsolidation basis. The number of options has been rounded down to the next lowest whole in order to allow the holder to purchase only a whole number of common shares upon exercise.

About Devonian Health Group Inc.

Devonian is a clinical-stage pharmaceutical company specializing in the development of drugs for various autoimmune fibroinflammatory disease with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription drugs for the treatment of fibroinflammatory autoimmune diseases, including, but not limited to, atopic dermatitis, radiodermatitis and ulcerative colitis.

Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with its pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare LP, focused on selling prescription pharmaceutical products in Canada, under licences from brand name pharmaceutical companies.

Devonian was incorporated in 2015 and is headquartered in Quebec, Canada, where it owns a state-of-the art extraction facility. Devonian is traded publicly on the TSX Venture Exchange and currently quoted on the OTCQB Venture Market.

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